WELLINGTON, New Zealand,
April 6, 2018 /CNW/ - Chatham Rock
Phosphate Limited (TSXV: "NZP" and NZAX: "CRP" or the
"Company") wishes to advise shareholders that, subject to
regulatory approval, it has retained Mackie Research Capital
Corporation to initiate its market making service to provide market
making services to the Company in compliance with the policies and
guidelines of the TSX Venture Exchange and other applicable
legislation.
Mackie will trade Chatham
shares on the TSXV for the purposes of maintaining a reasonable
market and improving the liquidity of Chatham's common shares. The agreement
between Mackie and the Company is on a month by month basis Company
has agreed to pay Mackie $3,500 per
month, payable in advance. The engagement may be terminated
by either party with written notice of 60 days. The Company
and Mackie act at arm's length, but Mackie may provide investment
banking services to Chatham and
Mackie and/or its clients may have an interest, directly or
indirectly, in the securities of Chatham. The agreement is principally
for the purposes of maintaining market stability and liquidity for
the Company's common shares and is not a formal market making
agreement. There are no performance factors contained in the
agreement between Mackie and the Company and Mackie will not
receive any shares or options from the Company as compensation for
services it will render.
About Mackie Research Capital Corporation
Mackie is one of Canada's
largest independent full service investment firms, and proudly
traces its roots back to 1921. Mackie is privately owned by
many of its 300 employees. As a fully integrated national
investment dealer, Mackie offers a full complement of capital
markets and wealth management services to private clients,
institutions and growth companies.
About Chatham Rock Phosphate
Chatham Rock Phosphate is the custodian of New Zealand's only material resource of
ultra-low cadmium, environmentally friendly pastoral phosphate
fertiliser. Our key role is connecting the resource with
those who need it.
Using this phosphate will support sustainable farming practices,
including healthier soil profiles and reduced accumulation of the
heavy metal cadmium, reducing carbon emissions and dramatically
lowering runoff to waterways and shrinking fertiliser needs over
time.
The resource represents one of New
Zealand's most valuable mineral assets and is of huge
strategic significance because phosphate is essential to maintain
New Zealand's high agricultural
productivity.
New Zealand's current access to
phosphate is vulnerable to economic and political events in the six
countries controlling 98% of the world's phosphate reserves, with
85% of the total in the Western Saharan state of Morocco.
Chatham takes very seriously
the responsibility vested in it through its mining permit to use
the world's best knowledge and technology to safely extract this
resource to help sustainably feed the world.
Our initial environmental consenting process independently
established extraction would have no significant impact on fishing
yields or profitability, marine mammals or seabirds.
Neither the Exchange, its Regulation Service Provider (as
that term is defined under the policies of the Exchange), or NZX
Limited has in any way passed upon the merits of the Transaction
and associated transactions, and has neither approved nor
disapproved of the contents of this press release.
SOURCE Chatham Rock Phosphate